ECON 4023 - Personnel Economics

Credit Hours: (3)

Description: This course is an introduction to personnel economics. Personnel economics is the application of formal economic theory, statistics and econometrics to human resources management. In particular, it takes an economic approach to the two key problems of human resource management: employee selection and employee motivation. We will study classic organization and management problems such as human capital and learning, incentives, hiring and separation of workers, job search, compensation, delegation of authority, teams, and stocks and stock options, applying principles of statistical probability, principal-agent models, set theory, mathematical functions, etc. A particular focus will be on recent empirical evidence within the field of personnel economics.